Random Blog Post: Unprofitable Social Media
This past Thursday, Snapchat, Inc. (SNAP) closed down 6%. This resulted in a decrease in market cap of about $1.3 billion. Rumors have been swirling that this may have been a result of Kylie Jenner's tweet asking "...Does anyone else not open Snapchat anymore?" Jenner tweeted this because she, like many other users, was extremely disappointed in the app's new interface update. Whether or not the 6% was attributed to Jenner's tweet, it is still apparent that she had some impact on the poor day for the company. This whole situation is an example of what is wrong with Snapchat and other technology startups, which may have gained a large user base, but do not have a profitable or sustainable revenue model. For the most part, I consider myself anti-social media. Constantly, I try to convince myself to delete all of my accounts and leave the social media world. However, I still have Facebook, Twitter, Instagram, and Snapchat like a majority of people my age. Despite r...